NIL $$$$
- Thread starter Bkmtnittany1
- Start date
Don't be surprised if Michigan-Washington garners fewer viewers than Michigan-Alabama. College football viewership, unlike that of the NFL,, can be weird that way. Not predicting that it will happen, but won't be terribly surprised if it does.
Scrounged up enough money to go down to the Skeller for a case of green grenades(rolling rock pony bottles) and chase drunk chicks!
Better time slot for UGA-FSU
That said, that anyone aside from avid Bulldog fans watched that UGA-FSU debacle is rather sad
Yes players receive a 1099 from hvu for nil activities from which they, hvu, were involved. If the players had other nil activities the expectation is that that institution prove the 1099. Yrs the players need to pay taxes and some pay quarterly estimated taxes.
also yes hvu pays tax on their income, the 15% cut they receive.
Thank God for the NFL and a sane approach to managing the business end of things and giving everyone a level playing field
yes - two buckets. groups of people and some businesses contribute to a private company aka collective and that company dispenses pay for play money (not NIL). supposedly Penn State is arms length on where the $$$ go, but who knows. However these are private companies so not sure there is any visibility. they sign contracts with the players who they pay to play including inducement to attend school. all against ncaa rules but apparently not enforceable.
then there are some actual NIL $$$ for a few players - i.e. player sells their personal brand to a corporate sponsor. Wendys, Dr Pepper, etc. The sponsor wants the player's image in their ads - don't care about them attending a school. many of these are public companies and you might find what those deals are worth.
these players pay taxes like the rest of us. I think the one Florida collective is paying the players as contractors, so the player likely needs an LLC or similar to take payment. They need a tax accountant and lawyer to assist. The collective has a tax return also - probably non-profit. They could get in a lot of legal trouble here if they try and evade taxation. Handing a plyer an envelope with $$$ could put both the player and company execs in prison. IRS wanted to some auditing - this would be a great place for them to go.
the real NIL $$$ are also taxable - Caleb likely has a pretty good size tax bill for Dr Pepper deal.
all part of being an entrepreneur.
So who is paying Omar Easy's salary? Is CJF ? PSU? Or is this like so many other "charities" where 60% of donations goes to administration and overhead?
So they pay taxes. Who cares? Are you a retired IRS agent or just someone obsessed with taxation?
Life is pretty simple: get paid and pay taxes; don't get paid and pay no taxes; get paid, pay no taxes and go to jail.
If the cash only pizza joints are just trying to avoid credit card fees, why can't I pay by check?
Or how much they pay their board officers, admin costs, travel costs,, where they spend it etc. but hey, some here will try to shame others into giving them their hard earned money.
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